Bettman on Coyotes sale: 'It will make franchise even stronger'
GLENDALE, Ariz. -- NHL commissioner Gary Bettman's press conference Thursday at Gila River Arena didn't cover much new ground as the Arizona Coyotes and their fans await the completion of Andrew Barroway's 51 percent purchase of the club.
But Bettman did clarify a few points without naming Barroway as the investor. Here are the highlights:
Bettman said the NHL did not play any role in soliciting investors for IceArizona or the Coyotes.
"There's been no need," he said. "We learned about this after the contact was initiated by the interested party. The current ownership group wasn't soliciting additional partners, nor were we."
NHL sources confirmed to FOX Sports Arizona last week that the Coyotes have received numerous expressions of interest from potential investors over the past year at higher valuations than the one at which IceArizona purchased the franchise last year ($170 million).
"I guess it's a testament to what (owners) George (Gosbee) and Anthony (LeBlanc) and the partners have done," Bettman said. "Nothing is finalized and it's conceivable nothing could get finalized; it's possible something will get finalized. What it means is the franchise is heading in such a direction that there are people with substantial resources who want to be a part of this and want to bring additional assets and support to the franchise."
As for speculation that Barroway wants to buy the team to move it to another market, Bettman said "that's all unfounded; that's off the mark."
Bettman noted that the team has made significant progress in ticket sales, corporate sponsorships and other revenue streams in just one year of ownership.
"All the things that we promised you would happen," he said. "So for people to still be cynical at this point and question either our intentions or IceArizona's intention I think is grossly unfair at this point.
"By every measure the club is doing much better. I don't know if some people had an expectation that turning things around after league operations for so many years was like turning on a light switch, but I was never under that illusion."
The New York Post recently reported the Coyotes were valued at $305 million, which came as a surprise to many, given the purchase price one year earlier.
"There are two things to say about that," Bettman said. "There have been other recent transactions in the NHL which reflect the fact that franchise values are increasing for NHL teams.
"Two, I think you're seeing that across all sports, among the four major sports, and I think that's a trend we're going continue to see because of, among other things, the importance of sports to media in this digital age where technology is changing on a daily basis the way people consume entertainment, particularly sports."
Despite Bettman's non-committal statements on the progress of the deal, NHL sources told FOX Sports Arizona that the deal is close to completion with paperwork and minor legal issues the only current holdups.
When the sale is complete, "I think it will make the franchise even stronger," Bettman said.
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